Bank of New York Mellon (NYSE:BK) Stock Rating Upgraded by StockNews.com

Bank of New York Mellon (NYSE:BK) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.62 during midday trading on Tuesday, reaching $86.52. 3,248,240 shares of the company traded hands, compared to its average volume of 4,285,420. Bank of New York Mellon has a 1-year low of $52.64 and a 1-year high of $86.69. The firm has a market cap of $62.90 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The firm’s 50 day simple moving average is $79.67 and its two-hundred day simple moving average is $73.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts expect that Bank of New York Mellon will post 6.86 EPS for the current fiscal year.

Institutional Trading of Bank of New York Mellon

Large investors have recently made changes to their positions in the stock. Studio Investment Management LLC raised its stake in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares during the last quarter. Grove Bank & Trust boosted its position in Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in Bank of New York Mellon by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.